Update with more questions and a pic...Which house would you choose?

Update: So we saw house #2 and fell in love with inside however what we didn't realize is that the backyard backs up to the southern state
Inside the house you heard no noise whatsoever but once in the backyard you can hear the cars. I know that the trees are bare right now and that doesn't help but would you buy a house where the back yard backs up to a major highway (SSP). Also FYI there are no neighbors behind us on the other side. I posted a pic of the house and it's location.

Sorry for all the questions I only ask because the type of house we want in the area we want it in in our price range is hard to come by..both houses are estates sales with the second one being in MUCH better condition. I also found out that the reason house #2 fell out of escrow was because the buyer couldn't obtain financing due to DTI according to the realtor all inspection reports came back perfect.

-------------------------------------------------------------------

So after looking for over a year and going back and forth we have finally narrowed it down to an area we love. Right now we are torn between two houses.

House #1 is on a main road (double lined street) although not a super busy main road. It has an IGP which we wanted eventually. The house is an estate sale and hasn't been lived in in a while. During the first time we saw it we initially thought it just needed cosmetic work however the second time we went we noticed that it needs to have the sheet rock replaced. That doesn't include the fact that we need to redo floors, countertops, rip out paneling and replace some outside doors.

It also needs a new fence and the sidewalk is also buckling at the side entrance although the estate said that they would fix that before we move. We don't know what kind of condition the pool is in either since it just had a tarp thrown over it. The garage was halfway converted into some storage room with the other half still functioning as a garage but not large enough for a car. A garage was on my list but I suppose we can live without converting it back right away. The house can also use new siding although that would be something we would table for next year.

House #2 we never got to see before because by the time we called it was in contract. Apparently it fell out of escrow and is now listed lower than it was originally but still about 10% higher than house #1. It needs updating but cosmetic only..paining, redoing floors, etc. stuff we can have done pretty fast. It needs a fence too since it's not fenced in at all but it's 300 square feet bigger than the other house and has a lot more property plus it's on a cul de sac and has a functional garage.


Both houses are close to each other and the same school district but I'm so unsure of which to choose.

I kind of feel like with house #1 we can have the work done and make it our home and still have the IGP but then this is our first "house" and it's a lot to renovate and quite frankly it scares me a bit

House #2 has the better location and bigger property and square footage and is more "move in ready" but no IGP and more $$

WWYD?

Image Attachment(s):

Message edited 1/30/2015 10:23:11 AM.

Re: Which house would you choose?

Cul de sac, hands down. I would try to find out why it fell out of contract, though. God luck!

Which house would you choose?

House #2. Better location less work. You can put in a pool.

Which house would you choose?

I would also choose house 2 :)

Re: Which house would you choose?

House #2, no question.

Which house would you choose?

House 2. Put a pool in later and enjoy your 300 sq feet in the meantime ;)

Re: Which house would you choose?

House #2 sounds better but you also said you haven't seen it yet? Pictures can be deceiving and it can need more work then you think.
That being said of the two I would still choose #2.

Which house would you choose?

Number 2 because it's larger and has a better location.

Re: Which house would you choose?

2....could not live near a busy road...ever.

Re: Which house would you choose?

#2

Re: Which house would you choose?

i stopped reading house #1 after i saw main road. that is a huge deal breaker for me.

definitely #2

Re: Which house would you choose?

#2

Re: Which house would you choose?

#2

Which house would you choose?

house #2.
i live on a non-main road with a double line and it's a serious cut thru road-- busy at rush hour, etc not bad at night. people come flying around the corner.
also i am sooo over the IGP

Re: Which house would you choose?

#2 definitely

Re: Which house would you choose?

Re: Which house would you choose?

Although more pricey, definitely #2. It seems like house #1 is going to need a lot of work and probably some unexpected "surprises".

Which house would you choose?

Thanks everyone the more I think about it I agree that house #2 seems to be a better choice. I think I've almost convinced DH since he was ready to write an offer for house #1 that we should see house #2 and then decide. He is set on the pool although that is something we can put in ourselves down the road. The real estate agent also said that house #2 is a trustee sale and they really want to make a deal so maybe we can get an even better price on it. The only kicker is that the taxes on house #2 are almost $3k more than house #1. The houses surrounding house #2 are priced much higher than the house itself and I suspect that is because that area has bigger homes. The property size is also huge so we will see. Thanks for all the advice.

Which house would you choose?

The main road is a deal breaker for me. House 2.

Message edited 1/27/2015 6:15:55 PM.

Which house would you choose?

Main road and kids = deal breaker

#2

Re: Which house would you choose?

Re: Which house would you choose?

I'd be worried about deferred maintenance with a long vacant house that already appears to need significant work. Who knows what you can't see (and after all, a home inspector can only find it flag issues that are visible/accessible). A busier road will also always cap your equity/negatively impact resale value, even if you dint mind it.

So based on your post, I'd say house 2 is a better choice.

Eta - I would ask about why house 2 fell out of contract, but most times it's because the buyer couldn't get a mortgage. However, sometimes there are title or CO issues, for example.

Message edited 1/27/2015 9:48:21 PM.

Re: Which house would you choose?

We always weighed very heavily the things you can not and could never change about a property. School district, location, property size, square footage (we would never be up for huge construction/additions), layout, number of bedrooms. In my opinion, you can always put in a pool later, and if house #1's pool is in disrepair, it could be a nightmare to fix. A busy main street is a big negative to me having small kids. Taxes are a factor though, it drives up your monthly payments significantly. Not an easy choice, but I think I'd go with #2.

Re: Which house would you choose?

Especially for re-sale value due to location, I would 100% go with house #2. You can always add a pool but you cant take a house off a double yellow line road. If you were ever going to sell, house #2 will be more marketable due to its location.

Re: Which house would you choose?

#2 simply becuase its NOT on a double yellow.